Monday, June 20, 2011

As Facebook continues to innovate at a rapid pace, it is the marketer's job to translate those innovations into an enhanced experience for their current and potential fans and customers. In the last few months, there have been several changes that affect the looks of Facebook Pages, how they can be promoted, how brands can communicate on Facebook, the impact of sharing, and much, much more. But don't worry. We know that there is a lot to keep up with, so we wanted to lay out all of the recent changes in one spot to serve as a helpful guide.

What's new with the Facebook platform?

Updated PagesSome of Facebook's changes are minor, but the recent Facebook Pages update is one of the biggest recent changes Facebook's community has seen. The main difference? Pages now look and feel more like user profiles. Page administrators can "Login as Page" and interact with Facebook as they would from their personal profile -- with brands and fans alike. Page admins will even see a specialized news feed and will be able to comment and "like" things from the brand's perspective, making for a more cohesive experience.

The appearance of Facebook Page tabs has also changed.

Iframes are here......and they have forever changed the way brands interact with their fans. We can now build even more robust user experiences inside of a Facebook Page, and best of all, we can more effectively track each user interaction.

Basically, many of the things brands have been used to doing with their creative agencies or analytics providers for the last 10 to 15 years was not possible (or at least, very difficult) to do in a Facebook Page tab. For those looking for a deep dive, read more here.

FBML might be gone, but iframes appear to be here to stay.Sharing is caring (Sponsored Stories)Sponsored Stories marked Facebook's first attempt to let marketers amplify the actions their customers, potential customers, and fans are taking on Facebook.There are now four types of sponsored stories (all of which can only be seen by Facebook friends). The four types are:Likes: When people "like" something on a Page, brands can employ that "like" in their Facebook advertisements.Wall posts: The same goes for wall posts. Anything posted on a wall is open to be sponsored by a brand and included in their Facebook ads.Check-ins: When people use Facebook Places (don't worry, we'll get to Places soon) to check in to a location, that information can be displayed in an advertisement.Custom apps: Interactions taken on custom applications -- for example, taking a quiz or poll -- can be sponsored.

The launch of Sponsored Stories confirms Facebook's commitment to its Page product, as three of the four initial triggers for Sponsored Stories are tied to Facebook Pages.Targeting ads to updatesFacebook has started testing ads based on status updates. For example, if a user says something like, "I'm having a baby," or asks, "Hey, what's your favorite hotel in Turks and Caicos?" the ads on the right-hand column will reflect their immediate updates. Instead of saying "Sponsored" above an advertisement, it will say "Related adverts," which makes the presence of the ad seem more natural.

This is essentially the next evolution of "Sponsored Stories." It's still in its infancy and has only been rolled out to about 1-2 percent of Facebook's users for testing. But, if Facebook can combine people -- who they are, how old they are, where they live -- with intent, it essentially becomes the most massive ad platform ever…so stay tuned.

Facebook PlacesAt the time of the launch of Facebook Places, only 4 percent of Americans had even tried location-based services, let alone used them regularly. Foursquare and Gowalla combined have just a few million users. So when Facebook decided to get into the check-in market, location-based services finally reached the masses. Brands follow consumer habits, and with the implementation of Places, Facebook's huge scale - 700 million accounts - turns an increasing number of consumers into geo-social users. And with the launch of Sponsored Stories, Facebook is reinventing the impact of check-ins by turning them in to targeted advertisements.

Brand tagging (aka, Facebook's biggest minor update)According to Facebook, 3 billion images are uploaded to Facebook each month -- which is 10 times more than the entire Library of Congress. That's a lot of photos -- and a lot of opportunities for marketers to be featured in real-life product placements.

Not surprisingly, photos represent the most popular Facebook application. Fast Company even believes that the popularity of photos will help "brand tagging" surpass the "like" button. If you think about it, tagging a photo with a brand that's actually represented in the photo is a natural behavior. And it's the embodiment of brand advocacy.

Facebook Deals and social commerceFor those that have been waiting for "the year of social commerce" (we've all been hearing about it since 2008 or so), it's finally here. The launch of Facebook Deals marks Facebook's biggest -- and most notable -- social commerce endeavor. As of now, Deals is only being offered in limited markets, and while the nationwide rollout will be gradual, so was the rollout of Facebook itself (and now we're at 700 million users.

As of now, commerce on Facebook is growing, but limited. Right now, most people are not on Facebook to shop. However, people are shopping in massive numbers on the internet, and sharing the purchases and purchase decision-making process with their social graph. According to Wired magazine, 90 percent of all purchases are subject to social influence.

Right now, we see the value of bringing Facebook to your commerce, rather than (or in addition to) bringing your commerce to Facebook. For example, many brands have sharing buttons on their websites, but they don't know how much revenue is being driven directly via social sharing. Buddy Media recently acquired social commerce company Spinback, which enables brands to answer that question.

There's no such thing as "wasting time" on FacebookWe can't stress this one enough. Understanding the user experience is the most important element to any successful marketing campaign. And with Facebook changes rolling out regularly (there are a few more that have been announced recently), it's the only way to understand the complex and wonderful world that is Facebook.

Thursday, January 27, 2011

Eleven key consumer trends to watch in 2011 include acts of kindness from brands, the developed world launching products for emerging economies, and online status symbols, according to consumer insights firm trendwatching.com.

Following is a brief overview of each of the 11 consumer trends which trendwatching.com predicts will have a global impact on marketers in 2011.

1.Random acts of kindness: Consumers’ cravings for realness, for the human touch, ensure that everything from brands randomly picking up the tab to sending a surprise gift will be one of the most effective ways to connect with (potential) customers in 2011, especially beleaguered consumers in North America, Europe and Japan.

trendwatching.com advises that the rapid spread of social media platforms such as Twitter and Facebook among consumers gives brands previously unavailable insight into their moods, wants and locations, and also provides a new direct channel to deliver acts of kindness.

2.Urbanization: Urbanization remains one of the absolute mega trends for the coming decade, with about the global population currently living in urban areas. Urban consumers tend to be more daring, more liberal, more tolerant, more experienced, more prone to trying out new products and services. In emerging markets, these effects tend to be even more pronounced, with new arrivals finding themselves distanced from traditional social and familial structures, while constantly exposed to a wider range of alternatives.

3.Pricing Pandemonium: Mobile devices and social networks allow consumers to constantly receive targeted offers and discounts, even at the point of sale from a rival brand, as well as join interest groups. Brands should target consumers with offers and features such as instant mobile coupons and discounts, online group discounts, flash sales, and dynamic pricing based on real-time supply and demand.

4.Made for China/Emerging Economies: In 2011, expect an increasing number of ‘Western’ brands to launch new products or even new brands dedicated to consumers in emerging markets. Growth in consumer spending in emerging markets far outpaces consumer spending in developed markets, and Western brands are favored more than local brands in emerging markets. Western brands including Levi-Strauss, Apple and BMW have already capitalized on this trend.5.Online Status Symbols: In 2011, trendwatching.com recommends that brands supply customers with any kind of symbol, virtual or ‘real world,’ that helps them display to peers their online contributions, interestingness, creations or popularity. This includes personalized social networking memorabilia as well as location-based games and contests which award virtual or real-world prizes.6.’Wellthy:’ Growing numbers of consumers will expect health products and services in 2011 to prevent misery if not improve their quality of life, rather than merely treating illnesses and ailments. Products such as mobile health monitoring devices, as well as online health apps and health-dedicated social networks, will serve the multichannel wellness needs of consumers.

7.‘Twin-sumers’ and ‘Social-lites:’ Both of these types of online consumers identified by trendwatching.com are critical to spreading positive word-of-mouth recommendations. Twin-sumers are consumers with similar consumer patterns, likes and dislikes, and who are hence valuable sources for recommendations on what to buy and experience, while social-lites are consumers who consistently broadcast information to a wide range of associates online.

8.Emerging Generosity: This trend is about brands and wealthy individuals from emerging markets (especially China) who will increasingly be expected to give, donate, care and sympathize, as opposed to just sell and take. And not just in their home countries, but on a global scale. It’s a profound cultural change and a consumer demand that their counterparts in mature markets have had a few years to getting used to.9.Planned Spontaneity: With lifestyles having become fragmented, with dense urban environments offering consumers any number of instantly available options, and with cell /smartphones having created a generation who have little experience of making (or sticking to) rigid plans, 2011 will see what trendwatching.com calls full-on “planned spontaneity.”

Brands can expect to see consumers in 2011 rushing to sign up to services (the planned part) that allow for endless and almost effortless mass mingling with friends, family, colleagues or strangers (the spontaneity part). A developing segment of this trend is consumers signing up for mobile services that passively and constantly broadcast their location.

10.Eco-Superior: When it comes to ‘green consumption’, brands should expect a rise in “eco-superior” products; products that are not only eco-friendly, but superior to polluting incumbents in every possible way. Trendwatching.com says brands should think of a combination of eco-friendly yet superior functionality, superior design, and/or superior savings.

11:Owner-less: Fractional ownership and lifestyle leasing business models have re-emerged, with services such as car-sharing and public bike programs enjoying success around the globe. For many consumers, access is better than ownership.

Emerging Economies Provide Consumer Innovations

Emerging economies are an increasingly important source of consumer innovations, according to earlier findings from trendwatching.com. The company cites a number of statistics to support its premise that emerging economies are becoming a major source of consumer innovations that will have a global impact. For example, these economies have accounted for nearly 70% of world growth during the last five years, accounted for 34% of global GDP in 2010 and will account for 39% in 2015, and will account for two-thirds of world trade in 2050.

In addition, trendwatching.com says emerging economies contain a growing middle class of 2 billion people who spend $6.9 trillion USD annually. That figure is expected to rise to $20 trillion by 2050.

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